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How Big Is The Mental Health Apps Market?
In 2022, the market for mental health apps is expected to be worth $5 point 2 billion. About 2,000 00 Indians commit suicide annually. If suicide attempts are taken into account, the figures become even higher. According to a report, there will be 56,675,969 cases of depression in India in 2022, with a prevalence rate of 4%. In the world, India has the highest rate of depression, according to a World Health Organization (WHO) report. With 56 million cases of depression, 43 million cases of anxiety disorders, the highest global rate of suicides, which claim nearly 700 lives every day, and other factors, India bears an excessive portion of this burden. In the age range of 15 to 39, suicide is the leading cause of death. Based on this demand, we project that the total potential market size of the Indian mental health care sector, both online and offline, will be around $3 billion. According to the World Health Organization, 5.6 crore Indians suffer from depression and 3.8 crore from anxiety disorders. The World Health Organization estimates that between 2012 and 2030 (at the exchange rate of 2010), India will lose $1.03 trillion in economic value as a result of mental health issues.
What Is The Growth Rate Of Mental Health Apps?
The global mental health apps market size was valued at USD 5.2 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 15.9 percent from 2023 to 2030. About 20% of Americans now suffer from some form of mental illness, which is on the rise. The rise of social media, the COVID-19 pandemic, and societal trends that have led to smaller families and less involvement in the community are all factors contributing to the increase. The findings, which were disseminated in the World Psychiatry journal, showed that mental health apps helped people feel less anxious and depressed. Similarly, they discovered that these apps also helped reduce schizophrenia symptoms, and even helped some users to stop smoking. According to a medical journal, the Lancet, the prevalence of depression and anxiety will increase by more than 25% globally in 2020. That, combined with more people using online services, has led to a boom in mental-health apps. While there have been mental health apps for as long as there have been devices to access them, the number and use of these digital tools have exploded in 2016. Today there are approximately 10,000 to 20,000 mental health apps available, according to the American Psychological Association. Global Mental Health Statistics Overview 970 million people around the world struggle with some mental illness or drug abuse. 1 in 4 people will be affected by a mental illness at some point in their lives. Around 8 million people die from mental illnesses each year, or 14.3% of all deaths worldwide.
How Many Mental Health Apps Exist?
Groceries, fitness, banking – there’s an app for just about everything nowadays, including mental health. Currently, there are more than 10,000 mental health and wellness apps available in the app store. Mental health apps may provide activities, encouragement, and other techniques to practice daily. Many types are based on research and therapy techniques to provide evidence-based interventions. A mental health app can be a helpful supplement to your treatment plan, but it’s not a replacement for professional care. “People should see a mental health professional when they feel overwhelmed and unable to manage their day-to-day lives effectively and happily,” says Popsiliskis. Research looking at randomized controlled trials of mobile app mental health interventions with almost 50,000 patients did not find convincing evidence that any mobile app intervention greatly improved outcomes related to people’s anxiety, depression, smoking or drinking, thoughts of suicide, or feelings of well- dot. As many as 20,000 mental health apps may exist today,5 with two of the most popular being Calm6 and Headspace. Both of these focus on mindfulness and meditation, and are meant to help individuals get support other than from connection to a therapist or other traditional mental health services. The Cons of Mental Health Apps Privacy: Apps deal with very sensitive personal information so app makers need to be able to guarantee privacy for app users. Guidance: There are no industry-wide standards to help consumers know if an app or other mobile technology is proven effective.
Who Are The Target Users Of Mental Health Apps?
Mental disorder apps These apps are designed for people struggling with various mental disorders like anxiety, schizophrenia, obsessive-compulsive disorder (OCD), bipolar disorder, clinical depression, and post-traumatic stress disorder (PTSD). Many mental health and prayer apps target or market to young people, including teens — a demographic that suffers the most from mental health issues. When teens share information on these apps, it could be leaked, hacked, or used to target them with personalized ads and marketing for years to come.
How Effective Are Mental Health Apps?
Research looking at randomized controlled trials of mobile app mental health interventions with almost 50,000 patients did not find convincing evidence that any mobile app intervention greatly improved outcomes related to people’s anxiety, depression, smoking or drinking, thoughts of suicide, or feelings of well- dot. A handful of recent systematic reviews and meta-analyses have compiled existing evidence on the use of apps for the treatment of mental health. One overview of 9 systematic reviews found that mobile mental health applications (MHapps) showed some significant results in reductions of depression and stress scores [23]. Smartphone Mental Health Apps Lack Diverse Features, Consistent Privacy Settings. A new cross-sectional analysis suggest there are few options available for patients with schizophrenia or a serious mood disorder. The apps can help you with keeping track of your symptoms and manage your stress levels accordingly. They provide you with the required help and support, and information on your condition. Some apps even come with a checklist of symptoms for self-diagnosis, allowing you to figure out the seriousness of your condition. Research looking at randomized controlled trials of mobile app mental health interventions with almost 50,000 patients did not find convincing evidence that any mobile app intervention greatly improved outcomes related to people’s anxiety, depression, smoking or drinking, thoughts of suicide, or feelings of well- dot. The My Mental Health Crisis Plan app, which allows individuals who have serious mental illness to create a psychiatric advance directive that guides their treatment during a mental health crisis, recently was named Best Health Care Mobile Application in the 2021 MobileWebAwards.
How Much Money Do Mental Health Apps Make?
That’s assuming an annual growth rate of 20 percent—a conservative figure, considering the 32 percent growth these apps enjoyed, from US$203 million to US$269 million, from the first 10 months of 2019 to the same period in 2020. The global mHealth apps market size was at USD 38.2 billion in 2021, reflecting this change in attitude towards medical and health apps. This value is expected to expand at a compound annual growth rate (CAGR) of 11.8 percent from 2022 to 2030. Total revenue in the App market is projected to reach US$430.90bn in 2022. Total revenue is expected to show an annual growth rate (CAGR 2022-2027) of 6.91 percent, resulting in a projected market volume of US$641.10bn by 2027. In-app purchase (IAP) revenue in the App market is projected to reach US$204.90bn in 2022. According to a recent survey, the number of health or fitness app users in the United States increased from 68.7 million in 2019 to 87.4 million in 2020, a 27 percent increase in just one year—and that number is expected to increase. The global mHealth apps market size was USD 24.93 billion in 2020 and is expected grow from USD 38.89 billion in 2021 to USD 314.60 billion in 2028, exhibiting a CAGR of 34.8 percent in the 2021-2028 period.